Offshore staff

HOUSTON -- Noble Energy Inc. has announced results for its Benita appraisal well on block I offshore Equatorial Guinea. The I-2 appraisal well encountered approximately 45 m (148 ft) of net pay of which there is an estimated 10 m (33 ft) of net gas pay underlain by 35 m (115 ft) of net oil pay.

The I-2 well lies 42 km (26 mi) east of Bioko Island and 3 km (1.9 mi) southwest of the I-1 well, the original Benita discovery. I-2, in 951 m (3,120 ft) water depth, was drilled to a TD of 3,225 m (10,580 ft).

Noble Energy says the reservoir quality at I-2 appears similar to that at I-1. Well I-1 showed a high quality Miocene reservoir with 41.5 m (135 ft) of net hydrocarbon pay. Production tests from the well yielded flow rates of 1,038 b/d of condensate and 34.3 MMcf/d of natural gas, equal to approximately 6,755 boe.

Noble Energy and its partners have decided to defer testing of the I-2 well and instead plan to secure an additional drilling rig capable of further appraisal drilling downdip in the Benita oil column, which is in deeper water.A rig is expected to be available either late in 4Q 2007 or in 1Q 2008.

TheSonga Saturn, which drilled the I-2 well, will move to another prospect location on block I.

"Results from the Benita appraisal well have clearly highlighted the upside exploration potential of the Douala basin in Equatorial Guinea," says Charles D. Davidson, Noble Energy chairman, president, and CEO. "We have now confirmed with this latest well the presence of significant oil resources in addition to the previously discovered gas and condensate resources in this basin. We plan to proceed with an aggressive program to further define the resources in this area such that an optimal development program may be designed."

Noble Energy is the technical operator of block I, with 40% interest. Partners include Atlas Petroleum International Ltd., administrative operator, with 29% interest, Glencore Exploration Ltd. with 25% interest, and Osborne Resources Ltd., a company within the PA Resources Group, with 6% interest. GEPetrol, the national oil company of the Republic of Equatorial Guinea, has a 5% carried interest once commerciality has been determined.

10/4/2007